Aust shares look set to open lower.

The Australian share market looks set to open lower as both the Nasdaq and the S&P head toward their biggest one-day losses in months.

At 0700 AEDT on Thursday, the share price futures index was down nine points, or 0.15 per cent, at 6,010.

In the US, investors have bailed out of high-flying tech stocks and shifted bets to banks and other pockets of the market that could benefit from improving economic conditions, lower regulations and taxes, and higher interest rates.

The Nasdaq looks set for its biggest one-day loss in more than three months while the S&P 500 is heading for its biggest one-day loss in more than five months.

The Dow Jones Industrial Average was up 0.32 per cent, the S&P 500 was down 0.11 per cent and the Nasdaq Composite had dropped 1.47 per cent, by 3.21pm EST Wednesday (0723 Thursday AEDT).

Locally, in economic news on Thursday, the Australian Bureau of Statistics releases September quarter private capital expenditure and expected expenditure data, and October building approvals figures.

The Competition and Consumer Commission is expected to release the interim report from its inquiry into the dairy industry.

The HIA new homes sales report for October is also due out, as is the National Australia Bank Customer Spending Behaviours report for the third quarter.

In equities news, Aristocrat Leisure is expected to post full-year results, while Retail Food Group and Bank of Queensland hold their annual general meetings.

Meanwhile, the Association of Superannuation Funds of Australia’s annual conference continues in Sydney, while speakers at Mumbrella Entertainment Marketing Summit includes Executive Director of Telstra Media Michele Garra and Telstra’s Retail Marketing executive director, while the C2 Business Conference is on in Melbourne.

The Australian market on Wednesday rose with the share market’s benchmark index breaching 6,000 points for second time in November thanks to gains by the major banks, miners and energy companies.